Choice Hotels International (CHH) FY2019 results: revenue $1.1 billion, up 7.1% on the year
Choice Hotels International Inc. (CHH) reported revenue of $1.1 billion for fiscal 2019, the year ended 31 December 2019, up 7.1% on the year before. Net income was $223 million, up 3.0%, and diluted earnings per share $3.98. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2020.
Revenue
$1.1 billion
+7.1% on the year
FY2012FY2019
Operating margin
28.6%
30.6% a year earlier
FY2012FY2019
Net income
$223 million
+3.0% on the year
FY2012FY2019
Diluted EPS
$3.98
+4.7% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,115
1,041
941
+7.1%
Selling, general and administrative
169
170
166
-0.7%
Operating income
319
318
290
+0.1%
Operating margin
28.6%
30.6%
30.8%
Interest expense
46.8
45.9
45.0
+2.0%
Pre-tax income
270
273
249
-1.2%
Income tax
47.1
56.9
127
-17.3%
Effective tax rate
17.4%
20.8%
50.9%
Net income
223
216
122
+3.0%
Net margin
20.0%
20.8%
13.0%
Diluted EPS
$3.98
$3.80
$2.02
+4.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
271
243
257
+11.4%
Capital expenditure
57.3
47.7
23.4
+20.3%
Free cash flow
213
195
234
+9.2%
Free cash flow margin
19.1%
18.7%
24.9%
Cash from investing
-251
-321
-90.1
Cash from financing
-12.5
-129
-136
Depreciation and amortisation
18.8
14.3
6.7
+31.4%
Share-based compensation
16.6
15.0
24.9
+11.0%
Buybacks
50.6
149
9.8
-65.9%
Dividends paid
48.1
48.7
48.7
-1.3%
Dividend per share
$0.87
$0.86
n/a
+1.2%
Diluted shares, weighted
56m
57m
57m
-1.6%
Shares outstanding at period end
56m
56m
57m
+0.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
-23.5
-184
-259
Debt
844
754
725
+12.0%
Operating lease liabilities
21.3
0.0
n/a
Other liabilities
545
569
528
-4.2%
Total liabilities and equity
1,387
1,138
995
+21.8%
Fixed assets
352
128
83.4
+175.6%
Goodwill
159
169
80.8
-5.8%
Intangible assets
290
271
100
+7.1%
Cash and equivalents
33.8
26.6
235
+26.7%
Receivables
142
138
126
+2.6%
Other assets
410
406
369
+1.0%
Total assets
1,387
1,138
995
+21.8%
10-K for the year ended 31 December 2019, filed 2 March 2020: the filing.